A successful property investment is reflected in the tenants a Landlord/Property Manager keeps. If you’ve found some upstanding tenants, it’s best to make sure they stay around. Here are some some tips to establish a long-lasting relationship with your favourite tenants and to reduce turnover.
Give renewal incentives
Before a tenant’s lease is up, contact them to learn their plans. If they’re still deciding, offer lease renewal incentives.
Remember special dates
Take note of tenants’ birthdays, anniversaries, and other special occasions. A small gift, a card, or even a simple email can improve your relationship. These personal gestures will certainly be appreciated by any tenant.
Give discounts
When a tenant is moving into a new suburb or come from another city, you can help them settle in by providing a lost of favourite local shops, restaurants, and gyms. Give your tenants gift vouchers or partner with shop owners to establish exclusive discounts for your tenants.
Make property upgrades
Property upgrades, big or small, can greatly improve a tenancy over time. This can include appliance upgrades, switching to energy-efficient electronics, improved security, or landscape work.
Be proactive
Communication is key in a landlord-tenant relationship. Be responsive to calls and messages, while always offering a sense of support, no matter the issue. And, even before any issues arise, be prepared with a list of solutions to common household problems.
